Why is it Important to Insure Your Honda Car?

What's the difference between driving and driving safely? The answer is ‘car insurance’. No matter how good a driver you may be or how well you maintain your Honda Car, there are always risks.

Unfortunate events such as accidents, theft, damage due to natural or man-made calamities, malicious acts, vandalism, etc., are some things that will be beyond your control. Hence, an adequate Honda car insurance plan will protect your vehicle against such risks and compensate you for the loss incurred.

Besides, having third-party car insurance for your Honda car is mandatory by law in India. So, to enjoy joyous and carefree long drives in your Honda car, it’s essential to get an appropriate Honda insurance policy for it.

Types of Honda Car Insurance Plans

We have two types of car insurance plans -

  1. Third Party Car Insurance

  2. Comprehensive Car Insurance

1. Third Party Car Insurance

When you buy a new vehicle, it is mandatory by law under the Motor Vehicle Act of 1961 to have third party insurance. The premiums for third party car insurance are affordable, but the coverage provided by it is limited. With this plan, you will be covered for all the third-party liabilities. However, any damage to your vehicle is not covered under this plan.

2. Comprehensive Car Insurance

For extensive coverage, it is recommended to opt for comprehensive coverage. Even though the premiums charged are slightly more, comprehensive insurance provides all-around protection to you and your vehicle in case of accidents.

Apart from covering all third-party liabilities, comprehensive plans also include for the damage/loss incurred by your vehicle in case of accidents, theft, or loss due to natural and man-made disasters.

Honda Car Insurance Price for Popular Honda Car Models

Honda Insurance Cost

Sr No.

Honda Car Model

Engine cc

TP Rates

1

Honda City

1,497

 

2

Honda Amaze

1,199-1,498

 

3

Honda Brio

1,198

 

4

Honda Jazz

1,197

 

5

Honda Accord

1,993

 

Why Choose Finserv MARKETS for Honda Car Insurance?

Besides offering monetary compensation for the damages caused to your Honda car, buying a Honda insurance policy from Finserv MARKETS offers you the following benefits:

  • Cashless Settlement

Get cashless repairs done for your car across a wide range of network garages upon getting your Honda car insurance renewal through Finserv MARKETS.

  • Roadside Assistance

Being stranded on the streets (whether it's your daily route or a new one) can be scary. Well, we have you covered. Call our 24x7 roadside assistance car service and get your car back on the road in no time.

  • 24/7 Claims Assistance

With one of the swiftest car insurance claims processes, get unhindered assistance while filing an insurance claim with Finserv MARKETS in case of any mishap.

  • Car Hire

Hire a temporary car within your insurance claim in the event of a theft or a major car accident.

  • Online Insurance Renewal

At Finserv MARKETS, online Honda car insurance renewal takes a few minutes.

  • Discounts

Those who had a claim-free year gather reward points under the No Claim Bonus (NCB) benefit. These points can be used to avail discounts on your Honda car insurance renewal online.

Additionally, to check the car insurance premiums for policies available on Finserv MARKETS, use our car insurance calculator. The tool helps you determine the different premium costs for various plans and also compare the prices of Honda car insurance plans offered by other insurers. That way, you will be able to make an informed decision.

Inclusions in Honda Car Insurance Plan

You must know the things your car insurance plan covers. It includes -

  • Damage due to fire explosion self-ignition or lightning

  • Damage due to burglary, housebreaking, or theft

  • Damage due to Riot and Strike

  • Damage due to Earthquake (Fire and Shock Damage)

  • Damage due to Flood, Typhoon, Hurricane, Storm, Tempest, Inundation, Cyclone, Hailstorm, frost

  • Damage caused by accidental external means

  • Damage due to malicious acts

  • Damage due to terrorist activity

  • Damage whilst in transit by road, rail, inland, waterway, lift, elevator, or air

  • Damage due to Landslide/Rockslide

Exclusions in Honda Car Insurance Plan

Every policy has limitations. The things that are not covered under Honda car insurance are as follows -

  • Damage or loss caused outside the designated geographical area in the Honda motor insurance policy

  • Claims arising out of any Contractual Liability

  • The accidental losses incurred if the vehicle was being used for speeding, riding someone else’s bike, under the influence of alcohol, etc

  • Any damages caused directly or indirectly by ionizing radiation or contamination by radioactivity from any nuclear fuel or nuclear waste

  • Any accidental loss or damage caused by or contributed due to nuclear weapons

  • Any accidental loss or damage arising out of or in connection with the Invasion by foreign enemies, hostilities or Warlike operations (whether before or after the declaration of war), Civil War, Mutiny Rebellion, Military or usurped power

Add-On Covers for Your Honda Car

Comprehensive car insurance allows you to extend the coverage with the help of add-on covers. For slightly more premiums, you will be provided with an extended protection cover for your vehicle. Some of the add-on covers that you can buy with comprehensive Honda car insurance plan are as follows -

  1. Zero Depreciation: Zero depreciation cover allows you to receive full compensation on the claim made without having to factor in depreciation.

  2. Return to Invoice: In case your vehicle is lost/stolen, you will receive the invoice value of your Honda car. The invoice value is nothing but the amount you pay at the time of purchasing the car.

  3. No Claim Bonus (NCB) Protection Cover: With this cover under your name, the NCB earned remains unaffected even after you make a claim on your car insurance plan.

  4. Consumable Expenses: Consumables include the items used for the proper functioning of the vehicle’s engine and other parts. These items are the engine oil, gearbox oil, nut and bolt, screws, distilled water grease, brake oil, oil filter, bearings, washers, AC gas, etc.

  5. Engine and Tyre Secure: With this cover, you are adding safety to your engine and tyres. So, in case of replacement/repair, the insurer will compensate you for the expenses incurred. Also, any damage to the internal parts such as the engine, gearbox, and transmission is covered.

How to Apply for Honda Car Insurance Online?

Just follow the steps given below -

  1. Visit Finserv MARKETS online

  2. Fill the application with the relevant details

  3. Choose the car insurance plan you want

  4. Make an online payment

  5. The policy will be issued in no time

How to Renew Honda Car Insurance?

To continue to reap the benefits of your Honda car insurance, you have to renew the policy time and again. Just follow these given steps -

  1. Visit Finserv MARKETS online

  2. Enter your registration number and contact details

  3. Check your renewal premium

  4. Make the payment online

  5. Download the policy copy

Also, do not forget to avail the No Claim Bonus discount at the time of policy renewal. However, note that NCB is earned on a claim-free policy term.

Honda Car Insurance Claim Process

Honda car insurance ensures all-around protection in case of unfortunate accidents or car theft. While getting a Honda insurance policy is the first step to security, the next crucial step is understanding how claims are registered.

There are two types of Honda car insurance claims:

  • Claim Cashless Car Insurance for Honda Cars:

With cashless claims, you can get your Honda car with accidental damages repaired at the nearest network garage. The insurer will directly pay the garage for incurred expenses.

  • Claim Reimbursement for Honda Cars:

Here, you can get your car fixed at your preferred garage, pay the expenses, and raise a reimbursement claim against your policy. Upon claim approval, the settlement amount is transferred to your bank amount (minus the deductible, if applicable).

Steps to Claim Honda Car Insurance Online

The claim settlement process for Honda cars at Finserv MARKETS is easy. Just follow the steps below:

Process for Filing Cashless Claims for Honda Cars

  1. Register the claim & inform the insurer. You may do so by calling their toll-free number or by visiting their website.

  2. Get your car repaired at the nearest network garage.

  3. Submit all the required documents.

  4. Once the documents are verified, your insurer will settle the claim directly with the network garage.

Process for Filing Reimbursement Claims for Honda Cars

  1. Inform the insurer about the damage.

  2. File an FIR in case of vehicle damage due to third-party or theft.

  3. Submit a copy of the FIR along with other documents.

  4. Get your car repaired at any nearest garage at your expense.

  5. Submit the original bills and payment receipts to the insurer.

  6. You will be reimbursed after the documents are verified and the claim is approved.

Documents Required for Honda Car Insurance Claim

Take a look at the important documents that you will need for claiming your Honda insurance:

  • Honda car insurance policy document

  • Honda car details

  • Insurer details

  • Details of the Incident

  • FIR copy in case of theft

  • Original bills and receipts of the vehicle repair

About Honda Cars

Honda Cars India Ltd. is the wholly owned Indian subsidiary of the Japanese auto-manufacturer Honda Motor Company Limited, founded by Soichiro Honda and Takeo Fujisawa in 1946. The company is headquartered in Tokyo, Japan and is the world’s eighth-largest manufacturer of automobiles.

Honda began its operations in India in the year 1995 in partnership with Shriram Group. It was introduced in India with a commitment to present Honda’s modern passenger car models and technologies to the Indian market. The company has manufacturing facilities at Bhiwandi and Greater Noida with powerful sales and distribution channels across the country, consisting of 300 authorized dealership facilities in 190 cities.

The company’s product line comprises Honda All New Jazz, Honda City, Honda Brio, Honda Amaze, and Honda CR-V, which are manufactured at the Greater Noida plant. In India, Honda cars have a reputation for being synonymous with superior design and technology, which makes it one of the top-selling car brands in the Indian Market.

Most Popular Honda Cars

  • Honda City

The Honda City is a luxury sedan manufactured for comfort and convenience with abundant cabin space, spacious legroom, and large boot space. It boasts an ergonomically planned cockpit and rear AC vents that enhance the luxury driving experience.

Built on ‘Exciting H Design’ theory, the Honda City features a Solid Wing Face Chrome Grille, sturdy fenders, and a flawlessly carved body. It is powered by a 1.5L i-DTEC diesel engine, which is one of the most fuel-efficient engines in the market.

The petrol version is powered by a subtle 1.5L i-VTEC petrol engine that offers an impressive power of 119 ps coupled with a mileage of 17.8 kmpl in the manual transmission. Protect your vehicle with our Honda City Insurance

  • Honda Amaze

The Honda Amaze is an entry-level 4-door sedan manufactured by Honda and launched in India on April 11, 2013. It is available in both Petrol and Diesel variants. However, the diesel version was Honda’s first diesel presentation to India.

The Honda Amaze is powered by a powerful 1.2 L (73 cu in) L12B i-VTEC petrol engine. The car is high on luxury and comfort, fuel efficiency, and state-of-the-art technology, thanks to CVT (Continuous Variable Transmission) technology.

The petrol variant offers a mileage as high as 18 kmpl while the Diesel option gives as much as 25.8 kmpl.

  • Honda Brio

The Honda Brio is a peppy five-door hatchback city car introduced by Honda in India in the year 2011. The car boasts elegant interiors featuring smart and ergonomically created seating, dual-tone beige interiors, sporty steering wheel with silver shine, and sleek chrome air vents.

Brio is powered by Honda’s 1.2L advanced i-VTEC (intelligent Variable Valve Timing and Electronic Lift Control) engine, which delivers amazing power output and high fuel efficiency. The car also boasts a series of advanced safety features along with easy clutch control during gear shifts for stress-free driving through city traffic.

  • Honda Jazz

The Honda Jazz is a sporty car featuring an aerodynamic design for speed and control. The car promises a safe driving experience with a variety of safety hallmarks, like dual SRS airbags, ABS with EBD, crash mitigating headrest, and immobilizer anti-theft mechanism.

The Honda Jazz also boasts state-of-the-art features created and developed for a superb driving experience. It’s fitted with Auto AC with touch screen control panel, leather-wrapped steering wheel & gear knob offer a super elegant and premium appearance.

The diesel version is powered by the 1.5L i-DTEC engine which gives an exceptional mileage of 27.3 kmpl and a maximum power of 100 ps. While the petrol version is powered by the 1.2L i-VTEC petrol engine strikes a perfect balance by presenting an efficient power of 90 ps consolidated with a mileage of 19 kmpl in the automatic and 18.7 in a manual transmission.

Check Out Car Insurance Plans Available at Finserv MARKETS

Manage all Queries related to Honda Insurance Here

  • ✔️What factors can affect my Honda car insurance premiums?

    The following factors can influence your Honda car insurance price -

    • Make and model of the vehicle

    • Age of the vehicle

    • Type of car insurance opted

    • City of vehicle registration

    • IDV of the vehicle

    • The cubic capacity of the Honda car

    • Year of manufacturing

    • Add-on covers (if any)

  • ✔️Will my Honda car be inspected before car insurance renewal?

    Mostly, yes. Depending on your claim history, the insurer will either ask you to submit a self-vehicle inspection report at the time of policy renewal or send a vehicle inspector for the same.

  • ✔️Will I lose the No Claim Bonus (NCB) if my Honda car insurance expires?

    The NCB benefits will stay put for up to 90 days after your Honda car insurance expires. If you fail to renew the policy within this time, you will lose the NCB earned.

  • ✔️Is it compulsory to buy car insurance for my Honda car?

    Yes. A third-party car insurance policy is mandatory by law under the Motor Vehicles Act, 1988, to legally drive on Indian roads.

  • ✔️What will happen if I do not have Honda car insurance for my new car?

    You will be issued a challan if you fail to present an active third-party Honda car insurance plan to the traffic police. Multiple violations can lead to license cancellation and/or imprisonment.

  • ✔️What is the fine for driving without a valid car insurance policy?

    The penalty for driving your Honda car without valid Honda car insurance is ₹2,000 and/or imprisonment up to three months for the first offence. For subsequent offences, the penalty is ₹4,000 and/or imprisonment of up to three months.

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